When Was I Radicalized? (Boeing edition)
Dick Fuld never saw a courtroom, much less a jail cell.
When was I radicalized?
When Dick Fuld walked away scot-free from Lehman with half a billion dollars in cash comp and stock sales during his tenure.
I thought of Dick Fuld today when I saw this picture and read this article.
Prosecutors Face Complex Path to Charging Boeing Over 737 MAX [Wall Street Journal]
To bring a successful criminal case against Boeing itself, prosecutors would have to show that executives repeatedly concealed or ignored the 737 MAX’s engineering problems, experts said.
And there is a larger economic and political component: A corporate indictment and potentially huge sanctions must be balanced against the economic and national-security risks of incapacitating the country’s second-biggest defense contractor.
That’s Boeing CEO Dennis Muilenburg, about to testify before Congress about the 737 MAX.
The article is correct, of course. There’s no way that the Justice Dept. will ever bring a criminal case against Boeing, not one that hits top management or really shackles the company.
And I know that Boeing said today that Muilenburg won’t get a bonus or (more) stock grants until the 737 MAX is flying again, but this article got Radical Me thinking …
I wonder how much money Muilenburg and his management team and his board of directors have pocketed since he took over as CEO in 2015 and Chairman in 2016?
I wonder if executive compensation practices have changed over that span since … you know … Boeing started buying back nine billion dollars of stock every year?
…click on the above link to read the rest of the article…
